JSE. Picture: MICHAEL ETTERSHANK
JSE. Picture: MICHAEL ETTERSHANK

The JSE could take its lead from positive Asian markets on Friday morning, though the local bourse still needs to gain more than 1% to avoid a second week of losses.

The US-China trade war continues to dominate market sentiment, with a partial deal between the two countries ahead of new tariffs kicking in on December 15 still in question.

US economic data has also been disappointing this week, with focus on jobs numbers later. While this could create volatility, it is unlikely to sway the US Federal Reserve if disappointing, as the Fed has already cut rates three times this year, said BK Asset Management MD for foreign exchange strategy Kathy Lien.

In morning trade, the Shanghai Composite was flat, while Hong Kong's Hang Seng was up 0.7%.

Tencent, which influences the JSE via major shareholder Naspers, was up 1.5%.

Gold was flat at $1,475.10/oz while platinum was up 0.17% to $897.96/oz. Brent crude was down 0.27% to $63.09 a barrel.

The rand was 0.1% firmer at R14.63/$.

There is little on the local economic or corporate calendar, though foreign exchange reserve numbers for the third quarter are due later.

US nonfarm payrolls data is due at 3.30pm SA time, with the consensus that employers added 180,000 staff in November.

gernetzkyk@businesslive.co.za

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